Watch out, Netflix and iTunes, there’s a new movie rental service in town. YouTube will be expanding its previously short-film-only videos into mainstream full-length Hollywood blockbusters in the next few weeks.

YouTube’s movie-on-demand service has already partnered with Sony Pictures Entertainment, Warner Brothers, and Universal, as well as independent studios like Lionsgate, and Kino Lorber. These companies will be licencing their movies to the YouTube service, but there are still a couple big names missing from the group. It appears that Paramount, Fox, and Disney aren’t jumping on the bandwagon.

A YouTube spokesperson told the entertainment site The Wrap that the company has been steadily adding more and more titles since it launched movies for rent on YouTube over a year ago. He said YouTube now has thousands of titles available. The movies are mostly indie rentals, so this new service will be a huge step for the video-streaming site.

As of now, the rentals range in price from $1.99 to $3.99, but pricing details and the exact date that the service will start with mainstream movies is still unknown. At a time when brick and mortar rental stores, like Blockbuster, are having trouble bringing in business, and home entertainment revenues are continually declining, this new service could be a welcome change for Hollywood.

This news comes not long after we heard that YouTube will be offering a number of premium content channels. With YouTube offering premium TV series, and original programming, which Google has devoted $100 million to, it’s possible that YouTube may be taking away some of iTunes and Netflix’s popularity.

However, Netflix just announced that its profits were almost double that of last year, so I don’t think Netflix will have to worry about losing too much of its popularity.